On Watch 7/23/19 from Dante

by | Jul 22, 2019

 

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BYND: Seems destined to blow through ATHs at some point tomorrow. I’d love to see it right out of the gate to like the short idea. Could see a scenario of weak open into 190 and then trap for 202+ as well. Plan would be if gap up/open rush thru 202, expect some covering blowoff couple bucks higher, and start looking short once a peak is in to risk off of. If weak open, 190 is the area of interest for a potential long scalp.

APRN: Like this short on pops sub 8.80s. Ideally tries for 9.50s again in early and fails there and again like the short pops idea. Didn’t seem to have much interest in double digits again today.

LCI: Something tells me this BS isn’t over yet. Due to the overwhelming short interest alone, if it creeps any higher thru 9 again tomorrow it’s probably headed for that recent high around 10.40, then prob fails shortly after that. Very careful here if looking for the short trade – understand what this is, the players involved in it, and what’s happening. Pure nonsense, but that can get you in the most trouble – been in this situation before with similar names. Don’t marry it, just wait for it to be over. If they save an open flush down into 7.75-8 area, could easily see if heading back to recent highs mid 10s to screw a few more people over before the selling begins again.

Shoot me a message anytime in chat (DGTrading101 is my IU handle) and I’m happy to discuss your trade ideas with you. If you’re not an IU member and would like to become one, you can join us here.

See you out there!

– D

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